Scotia Capital Inc. lessened its stake in Metlife Inc (NYSE:MET) by 29.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 332,192 shares of the financial services provider’s stock after selling 139,628 shares during the quarter. Scotia Capital Inc.’s holdings in Metlife were worth $16,501,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of MET. Kavar Capital Partners LLC acquired a new position in Metlife during the 2nd quarter worth $25,000. Motco grew its stake in Metlife by 160.6% in the second quarter. Motco now owns 516 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 318 shares in the last quarter. Advisory Alpha LLC acquired a new position in Metlife in the first quarter worth about $27,000. Jackson Grant Investment Advisers Inc. grew its stake in Metlife by 4,407.7% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 586 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 573 shares in the last quarter. Finally, Meridian Wealth Management LLC bought a new stake in Metlife in the first quarter valued at about $26,000. 75.62% of the stock is owned by institutional investors.
Several analysts have issued reports on the company. Morgan Stanley cut their price objective on Metlife from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 20th. Wells Fargo & Co boosted their price target on Metlife from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, July 11th. Citigroup set a $42.00 price target on Metlife and gave the company a “sell” rating in a research report on Thursday, May 23rd. ValuEngine lowered Metlife from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research upgraded Metlife from a “sell” rating to a “hold” rating and set a $51.00 price objective on the stock in a research note on Friday, August 2nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $49.71.
MET traded up $0.53 on Wednesday, hitting $47.95. 5,216,871 shares of the company’s stock were exchanged, compared to its average volume of 6,100,089. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.22. The stock has a fifty day moving average of $46.53 and a two-hundred day moving average of $46.74. Metlife Inc has a twelve month low of $37.76 and a twelve month high of $51.16. The firm has a market cap of $44.19 billion, a PE ratio of 8.90, a P/E/G ratio of 0.98 and a beta of 1.11.
Metlife (NYSE:MET) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $1.38 EPS for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.07. The company had revenue of $16.45 billion during the quarter, compared to the consensus estimate of $16.43 billion. Metlife had a return on equity of 9.75% and a net margin of 9.28%. Metlife’s quarterly revenue was down 22.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.30 earnings per share. On average, analysts predict that Metlife Inc will post 5.65 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, August 6th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.67%. The ex-dividend date is Monday, August 5th. Metlife’s dividend payout ratio (DPR) is 32.65%.
MetLife, Inc engages in the insurance, annuities, employee benefits, and asset management businesses. It operates through five segments: U.S.; Asia; Latin America; Europe, the Middle East and Africa; and MetLife Holdings. The company offers life, dental, group short- and long-term disability, individual disability, accidental death and dismemberment, vision, and accident and health coverages, as well as prepaid legal plans; administrative services-only arrangements to employers; and stable value products, including general and separate account guaranteed interest contracts, and private floating rate funding agreements.
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